Rates are rising - but it's not that bad
Friday, August 20th 2010, 3:05PM
Don't grizzle or panic over rising interest rates. The reality is that they are still relatively low and borrowers are paying far less for their loans then in the past. This is clearly illustrated in this graph which looks at the average effective mortgage rate (EMR) and is further analysed in Pattrick Smellie's blog.
Expert views looks at why the mortgage curve is flattening and further evidence of this is seen in mortgage rate changes this week with eight lenders increasing floating and short term rates and reducing long term fixed rates
We also have some news on Kiwibank and Westpac's mortgage books - Westpac grabs 44% of all new home loans and Kiwibank continues to grow its mortgage book at a much faster pace than its market share.
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